Questions 1-5

1} 2) 3) 4) 5) Which of the following is a key principle of the economic approach? a) A group decision derives from the individual members' decisions b) A positive economic statement is preferable to a negative one c) The opportunity benet for a decision exceeds its opportunity cost d) People want more of what they want and less of what they don't want B) You can have your cake and eat it too Which of the following is true with respect to the economic concept of costs? a) the marginal cost of the second hour of reading is lower than the rst hour b) the total cost of an activity is its opportunity cost plus its marginal cost c) high marginal costs does not suggest an activity should be avoided d) if an activity has a constant marginal cost then it should be chosen e) an activity with zero marginal cost also provides zero surplus Most students who start the term paper very late are likely to be a) Irrational procrastinators who will likely hand in a subpar esSay b) Rational procrastinators who will likely hand in a sub-par essay c) Irrational procrastinators who will likely hand in an above-par essay d) Rational procrastinatOrs who will likely hand in an abOve-par essay e) Brilliant strategists who know that they perform best under pressure Which of the following conditions is consistem with the idea that women have increasingly more power in the sex for procreation market? a) Women extract less payment from men 1)) Women will practice less 'quality control' and will compromise more c) Prostitutes are raising their rates d) The Male to Female (MIF) ratio is falling e) Males are subject to more stringent legal obligations around paternal responsibilities I'm less likely to speed in a school zone if a) There's better selection of shows on Netix b) There's a big game on tv c) The nes for speeding decrease {1) My driver's license has Expired e) I'm wearing a seat belt